The global melatonin sleep supplements industry is likely to reach a valuation of US$ 508.3 million in 2023. Future Market Insights report projects that the market is predicted to expand at a 7.6% CAGR from 2023 to 2033 and is anticipated to value at US$ 1055.6 million by the end of 2033.
The global melatonin sleep supplements market refers to the industry that focuses on the production, distribution, and sale of dietary supplements containing melatonin, a hormone that regulates sleep-wake cycles. Melatonin is naturally produced by the pineal gland in the brain and helps control the body’s internal clock.
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Melatonin sleep supplements are commonly used by individuals who experience difficulties falling asleep or maintaining a regular sleep schedule. They are also popular among travelers who need assistance adjusting to different time zones and overcoming jet lag. These supplements are available in various forms, including capsules, tablets, gummy, liquids, and even as ingredients in certain foods and beverages.
Growth in the trend of the global melatonin market toward melatonin supplementation is mainly due to the prevalent rise in the feeling of stress and a rise in global insomnia rates where Centers for Disease Control and Prevention (CDC), chronic sleep deprivation is now treated as a public health epidemic.
Melatonin supplements have been advertised to be effective in encouraging the symptoms of insomnia like difficulty in falling asleep, waking up numerous times throughout the night, and experiencing excessive daytime sleepiness.
Key Takeaways from the Market Study:
- Global melatonin sleep supplements market expanded at a CAGR of 6.7% between 2018 and 2022.
- Global melatonin sleep supplements market in 2018 was US$ 342.1 million.
- 60% of adults have sleep issues every night, according to the National Sleep Foundation (NSF) Sleep in America polls.
- North America is the leading market occupying about 36.7% of the melatonin sleep supplements market share in 2022.
- The United States holding a significant portion has a market share of 33.9%.
- Europe is succeeding in the melatonin sleep supplements market share with a CAGR of 18.3% in 2022.
- The United Kingdom is said to expand at a CAGR of 6.7%
- Germany is estimated to be dominating market after the United Kingdom holding a share of 5.9%.
- Australia is anticipated to experience delayed advancements owing to less availability of melatonin sleep supplements where the growth in the market is rising at a CAGR of 6.1%.
- Growth in China is recorded at a CAGR of 7.9%,
- India is said to expand at a CAGR of 7.4%.
- Japan holds the market share of 6.4%.
- Share of synthetic melatonin capsules is said to have a dominant position in the market
- Share of synthetic melatonin capsules is considered to hold a market share of 72.30%.
- Sleep disorders like insomnia is predicted dominate the market share.
- Sleep disorders like insomnia are said to have a notable market share with a value of 48.40%.
- Online Pharmacy has a leading position in the market.
- Online Pharmacies hold a significant market share of 37.2%.
Various varieties of melatonin supplements are available is one of the key drivers of the melatonin sleep supplements market – comments a Future Market Insights Analyst.
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Important Developments of the Key Players in the Market:
- In June 2023, Kaged Sustained Release Sleep Supplements where Kaged Sustained Release Sleep Supplements. MicroActive melatonin releases some up front and the rest over several hours.
Made with a unique formula to decrease sleep latency. Created to help reduce stress and promote calmness. Added Tryptophan and B vitamins to support natural melatonin levels
Competitive Landscape:
Some of the Prominent Players Working in the Global Market
- Amazing Nutrition (Good Brands LLC)
- Just Potent LLC
- Life Extension Foundation Inc.
- Natrol LLC (Aurobindo Pharma USA, Inc.)
- NOW Foods
- Optimum Nutrition, Inc. (Glanbia plc)
- Pharmavite LLC (Otsuka Pharmaceutical Co., Ltd.)
- Reckitt Benckiser Group plc.
- Matsun Nutrition
- Ion Labs Inc.
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Key Segments:
By Form:
- Powder
- Liquid
- Capsule
By Application:
- Sleep Disorders
- Anxiety
- Cancer
By Sales Channel:
- Online
- Retail
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East & Africa
Explore FMI’s related ongoing Coverage on Healthcare Market Insights Domain:
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Wearable Sleep Trackers Market: https://www.futuremarketinsights.com/reports/wearable-sleep-trackers-market
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